---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-001179"
form_type: "8-K"
ticker: "ACR"
cik: "0001332551"
company_name: "ACRES Commercial Realty Corp."
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T09:17:51.241890+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# ACRES Commercial Realty subsidiary guarantees $48M construction loan for student housing complex

## Summary
- Subsidiary ACRES Realty Funding, Inc. provided 'bad boy' guaranties on a $48M construction loan from Oceanview Life and Annuity Company.
- Loan made to joint venture Chapel Drive East, LLC for a student housing project.
- Guaranties also include Completion, Carry, and Environmental Indemnity agreements, with financial covenants for ARF.
- Guarantors include ARF and individuals Jason Pollack and Frank Dellaglio.
- Loan agreement dated January 24, 2023; guaranties are limited recourse, non-recourse carve-outs.

## SEC filing metadata
- accession: 0000950170-23-001179
- form_type: 8-K
- ticker: ACR
- cik: 0001332551
- company_name: ACRES Commercial Realty Corp.
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1332551/000095017023001179/0000950170-23-001179-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1332551/000095017023001179/acr-20230124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-001179
- JSON: https://secwatch.observer/filing/0000950170-23-001179.json
- Plain text: https://secwatch.observer/filing/0000950170-23-001179.txt

## Key facts
- Material Agreements
  ACRES Commercial Realty Corp. entered into Guaranties (including Guaranty Agreement, Completion Guaranty Agreement, Carry Guaranty Agreement, and Environmental Indemnity Agreement) with Oceanview Life and Annuity Company valued at $48 million (effective 2023-01-24).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Oceanview Life and Annuity Company
  - Value: $48 million
  - Effective: 2023-01-24
  source text: On January 24, 2023, in connection with ACRES Commercial Realty Corp.’s (the “Company”) investment in a student housing complex, ACRES Realty Funding, Inc., a direct, wholly-owned subsidiary of the Company (“ARF”) entered into guaranties related to a $48 million construction loan made by the joint venture in which the Company has a membership interest.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1332551/000095017023001179/0000950170-23-001179-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.